Looking for a quickbooks, vat return specialist?
You have come to the right place. From accounting to QuickBooks tax returns and everything in between, we got you covered
Some of Our Clients
Your Local QuickBooks, Vat Return Specialist
CFO360 UK live and breathe Quickbooks. most of our clients use Quickbooks, so we specialise in it exclusively.
With CFO360 UK, you have the option of doing the bookkeeping yourself within your Quickbooks Online file, or for us to do it for you.
We even pay the Quickbooks monthly subscription cost, saving you £22+VAT per month.
Most accounting firms would be able to work with you, as a Quickbooks Online user. However, very few are really specialists in Quickbooks. Choosing CFO360 UK is choosing a Quickbooks specialist.
But don’t just take our word for it – we’re the best matched London accountant in the Quickbooks Proadvisor Directory. See what some of our 250+ clients say about us here.
Quickbooks Elite ProAdvisors
CFO360 UK are Quickbooks Online Elite ProAdvisors; we’re one of the UK’s top Quickbooks partners, supporting 250+ clients, all using Quickbooks Online.
Free Quickbooks Online consultation
Have questions about your Quickbooks file? Or just want to check you’ve done something correctly?
We’re here to help and offer a free Quickbooks Consultation
Why Choose CFO360 UK For Your QuickBooks, VAT Returns?
At CFO360 UK, we understand that the process and terminology around tax returns can be daunting and highly confusing, so we have built a business model around helping small business owners understand their tax obligations and optimize their tax deductions.
What are the benefits of letting us help you with your QuickBooks, VAT returns ?
- We help you register for VAT and guide you every step of the way.
- Save time calculating your VAT as we do this on your behlaf.
- Get all your VAT records in one place & have ease of mind that your returns will be accurate
- We help you optimise your tax deductions and offer advise on penalties.
- Overview of the various VAT rates and types.
What Our VAT Services Include
We offer a variety of services alongside VAT including accounting, bookkeeping, management account services, payroll services, personal and company tax registrations and business advisory.
You will be assigned one of our qualified bookkeepers/accountants as your dedicated point of contact who will assist you with your VAT needs.
Our VAT services cover a range of factors including:
- Registering for VAT with HMRC
- Deregistration from VAT
- Lodging appeals with HMRC
- Advice on penalties
- Correcting previous VAT errors
- Distance selling
- VAT on sales
- VAT on purchases
Our Software Partners
Our software partners are all used to increase efficiency, automate processes and enhance the performance of your finance department so you can focus on matters most to you.
All our software partners have been carefully considered and picked to best support our local small businesses within the UK.
Frequently Asked Personal Tax Questions
A VAT (Value Added Tax) return is a calculation of how much VAT you owe HMRC, or they owe you, across a three-month accounting period.
VAT is calculated by looking at:
- Total sales and purchases during the three month period
- VAT owed on sales
- VAT you can reclaim for business purchases
- VAT refund amount from HMRC (if applicable)
If your business is not VAT registered, you do not have to submit a return.
If your business is VAT registered,
- as a requirement due to a taxable turnover of more than £85 000 or,
- as a voluntary registration
you are required to submit a VAT return to HMRc and comply with Making Tax Digital (MTD) guidelines.
Yes, you can complete and submit VAT returns yourself.
While not necessary, most people do prefer using the services of a qualified accountant as they are more likely to ensure the return is completed accurately, minimise the tax you pay and assist with any refunds you may be due.
Only expenses that are incurred solely for business purposes can be claimed on your VAT return. These expenses include:
- Office computers and equipment
- Office supplies
- Transport costs (not including travel to and from the workplace)
- Vehicles used solely for business purposes
- Business services
HMRC may request proof for these expenses so it is crucial to ensure that all proof of transactions, VAT receipts and VAT invoices are stored securely for record-keeping purposes.
VAT returns are submitted every three-months based on your accounting periods and the deadline for payments usually falls on the same day – one calendar month and seven days after the accounting period ends (e.g. if the period ends on 31 May, payment is due by 7 July)
Returns that are not submitted on time are subject to a late payment penalty that accrues interest until it is paid.
If you have missed other deadlines in the past, you could be subject to a Surcharge Liability Notice (SLN) instead which can remain on your record for up to 12 months.
What Our Clients Have To Say
53 COMPANIES REQUESTED A PROPOSAL IN THE LAST 30 DAYS
Request A VAT Service Proposal
We'll respond within one day with a consulting call on us. We can communicate over emails too if you prefer.
